Shajahan vs Hdfc Limited
2021 Latest Caselaw 3362 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                PRESENT

                  THE HONOURABLE MR. JUSTICE A.M.BADAR

      FRIDAY, THE 29TH DAY OF JANUARY 2021 / 9TH MAGHA, 1942

                        WP(C).No.1397 OF 2021(Y)


PETITIONER/S:

                SHAJAHAN, AGED 35 YEARS
                S/O.MUHAMMED, KAIPPANGANI, POMBILAYA, NELLAYA,
                OTTAPPALAM, PALAKKAD-679 335.

                BY ADV. SRI.K.I.SAGEER

RESPONDENT/S:

                HDFC LIMITED,
                REPRESENTED BY ITS AUTHORISED OFFICER, HDFC HOUSE,
                POST BAG NO.1667, RAVIPURAM JUNCTION, M.G.ROAD,
                KOCHI-682 015.

                R1 BY ADV. SRI.K.K.CHANDRAN PILLAI (SR.)
                R1 BY ADV. SMT.S.AMBILY, STANDING COUNSEL
                R1 BY ADV. SHRI.MICKY THOMAS

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
29.01.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.1397 OF 2021            2



                            JUDGMENT

Dated this the 29th day of January 2021

Heard the learned counsel appearing for the petitioner as well

as the learned Standing Counsel appearing for the respondent.

2. Learned counsel appearing for the petitioner submits that

the petitioner has availed two loans, one is the housing loan and

another is for insurance of the housing loan. He further submits that

because of financial constraints, the petitioner could not repay the

amount of loan timely and as such, the loans have been declared as

Non Performing Asset in December, 2019. Learned counsel

appearing for the petitioner submitted that the petitioner wants to

clear the overdue amount in monthly equal instalments, apart from

payment of regular EMIs for regularising the loan account.

3. Learned Standing Counsel appearing for the respondent

submitted that if the petitioner repays the entire overdue amount

and continue to pay the EMIs as stated in the prayer clause of the

writ petition, the respondent shall not continue with coercive

proceedings for recovery of the loan accounts.

4. In view of the fact that respondent has accepted the

proposal of the petitioner to clear the overdue amount of loans in

six equal monthly instalments apart from payment of regular EMIS,

the following order:-

The petitioner to clear the entire overdue amount of loans in

six equated monthly instalments commencing from 15.02.2021

apart form payment of regular EMIs. If the petitioner complies this

direction, the respondent shall not continue with the coercive action

for recovery of loan against the petitioner. Needless to mention that

a single default shall entail the respondent to continue with the

coercive proceedings for recovery of loan. It is made clear that no

further extension of time for complying this order shall be granted

to the petitioner. In the meanwhile, the petitioner shall not create

any third party interest in the secured assets.

The writ petition is accordingly disposed of.

Sd/-

                                              A.M.BADAR
ajt                                                 JUDGE





                            APPENDIX
PETITIONER'S/S EXHIBITS:

EXHIBIT P1              A TRUE COPY OF THE NOTICE DATED 10.02.2020

ISSUED BY THE RESPONDENT TO THE PETITIONER.